Franklin Resources, Inc. (BEN) Position Reduced by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Franklin Resources, Inc. (NYSE:BEN) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 684,398 shares of the closed-end fund’s stock after selling 5,875 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of Franklin Resources worth $30,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in Franklin Resources by 316.0% during the 2nd quarter. Acadian Asset Management LLC now owns 19,064 shares of the closed-end fund’s stock worth $854,000 after purchasing an additional 14,481 shares during the last quarter. NGAM Advisors L.P. boosted its stake in Franklin Resources by 0.6% during the 2nd quarter. NGAM Advisors L.P. now owns 25,308 shares of the closed-end fund’s stock worth $1,134,000 after purchasing an additional 148 shares during the last quarter. CAPROCK Group Inc. boosted its stake in Franklin Resources by 6.1% during the 2nd quarter. CAPROCK Group Inc. now owns 5,292 shares of the closed-end fund’s stock worth $238,000 after purchasing an additional 305 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Franklin Resources by 2.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 10,400 shares of the closed-end fund’s stock worth $466,000 after purchasing an additional 200 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Franklin Resources by 0.7% during the 2nd quarter. Sei Investments Co. now owns 211,433 shares of the closed-end fund’s stock worth $9,470,000 after purchasing an additional 1,548 shares during the last quarter. 44.77% of the stock is owned by institutional investors.

Several brokerages have issued reports on BEN. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 target price on shares of Franklin Resources in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, October 3rd. Citigroup lowered their price target on shares of Franklin Resources from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Wells Fargo & Company lowered their price target on shares of Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Finally, BidaskClub cut shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $44.45.

In related news, Vice Chairman Rupert H. Johnson, Jr. sold 400,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $42.95, for a total value of $17,180,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $42.83, for a total transaction of $2,433,814.75. Following the completion of the sale, the chairman now owns 2,047,273 shares in the company, valued at $87,684,702.59. The disclosure for this sale can be found here. 21.60% of the stock is currently owned by insiders.

Shares of Franklin Resources, Inc. (NYSE BEN) opened at $44.62 on Tuesday. The stock has a market cap of $24,083.92, a PE ratio of 14.49, a P/E/G ratio of 1.49 and a beta of 1.75. Franklin Resources, Inc. has a fifty-two week low of $38.93 and a fifty-two week high of $47.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.75 and a quick ratio of 8.75.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.64 billion. Franklin Resources had a net margin of 26.54% and a return on equity of 13.48%. Franklin Resources’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. equities analysts predict that Franklin Resources, Inc. will post 2.92 earnings per share for the current year.

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Franklin Resources Company Profile

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

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Institutional Ownership by Quarter for Franklin Resources (NYSE:BEN)

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